Digital Survey Technology Public Consultation

June 25, 2020 | 0 Comments

The Bermuda Monetary Authority [BMA] is issuing the proposed Digital Asset Issuance Statement of Principles & Digital Asset Issuance Rules 2020 for public consultation.

The BMA said, “Following the enactment of the Digital Asset Issuance Act 2020 [Act], the Bermuda Monetary Authority [Authority] is issuing the proposed Digital Asset Issuance Statement of Principles [Statement of Principles] and Digital Asset Issuance Rules 2020 [Rules] for public consultation.

“The Statement of Principles outlines how the Authority is proposing to act when exercising its power to grant, revoke or restrict a Digital Asset Issuance [DAI] authorisation and in exercising various supervision and enforcement powers provided for in the Act. The Rules provide explicit requirements as to how a DAI shall be conducted.

“The Authority is reinvigorating its usual consultation process by implementing an innovative initiative. Under this initiative, digital tools will be deployed to create an online survey, thus migrating all questions usually posed by the Authority in consultations to a fully digital environment. The goal is to broaden stakeholder engagement with the ability to respond on tablet/mobile devices, as well as to increase efficiency in the compilation of feedback.

“While the Authority is piloting this approach with the Rules and Statement of Principles consultation, going forward, and subject to the feedback received by stakeholders and industry partners, may harness this method in due course with other documents issued for public consultation.

“For further details on the public consultation and participation in the survey, please visit the following link.”

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